Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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An update on the April fractal. Still seeing some similarities. In april we had a 20% rally from the low, this time a 13% rally. Now the % says we are in the lower yellow circle, meaning we could make another bigger wave up. The shape says we are already in the higher yellow correction phase close to the high. My assumption is still that we have another big wave up after we finish the correctional move up. But just to be aware of things in which stage we might be now.
Please don't forget to give a like if you appreciate it :)
Previous fractal analysis: For more updates keep track of my normal Bitcoin analysis as well.
There is chance if we see a bear flag now, a break and a bear trap, that we are in the one of the bottom right
David, you are actually one of the best TAs here in TV, very rational, with real technical knowledge and much effort on the updates, an excelent point of view! Already on your Telegram channel, its been a real life savior for me. Thanks!
Don't get trapped into lower time frames. Chart it on higher time frame and you might get an idea what the highest probability will be. I charted this on Nov 25th. Just touched the green box spot on and playing out as planned. Just hit play and see for your self ;)
Je_Buurman
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Pareidolia - it's nice that it resembles a previous pattern, but don't try to pin it on which wave we are in now, not gonna work. It's true that markets (and all things in this universe) repeat certain moves/patterns over and over again, the reason behind it is the predictable psychology of human (trading)behaviour. Apparently in april the sentiment (and setup) was similar, by now presenting this 'fractal' (technical speaking those aren't even fractals) you feed into this even more since the vast amount of followers probably trying to trade based on the previous "fractal".
weiv1
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@Je_Buurman, these fractals repeat because of the Bots controlling the market, washing those in it (not 100% the same because of traders).
Firstly we have to know something that the master of this market who jump while bullish and leave before bearish so don't search for the bottom to enter ,,, okay let me explain you market situation now
Bitcoin his bullish wave now the same as April/2018 and the alt coins as ONT & EOS pumped at the first of the journey as April ,we stay above EMA 10 as April too
Market-cap: We need to close 1D candle also above 129B to reach 175B
So what should we do now ?
We have to wait to be in safe 100% until we close 1D candle atleast above 3970$ & RSI , after it our jouney will be ended at 5200$ so you should know your target from now
BTC now move with 1 month bearish then 1 month bullish so dont worry we'll gain our profits so easily but in safe ;)